Vlerick Repository
Not a member yet
7319 research outputs found
Sort by
The good governance guide to risk
No full textRisk is something that affects all organisations and if not handled correctly, it can be catastrophic. Our Good Governance Guide to Risk offers complete coverage of this dense, wide-ranging topic and will make sure that you are managing and controlling risk effectively. Starting with risk identification, evaluation and reporting, it will guide you through all the steps necessary for robust risk management, ensuring your processes are as rigorous and thorough as possible. The book takes a global perspective on risk and emphasises exactly why managing it properly is essential to organisational success. With a variety of risk management frameworks and approaches, the guidance can be directly applied to all organisation types. What’s more, the book looks forward to the future of risk management, addressing topics such as climate change, financial crime and shareholder activism, helping you stay one-step ahead
The value of new customer metrics in the digital era for better understanding and predicting business performance
No full textThe preventative benefit of group diversification on group performance decline: An investigation with latent growth models
No full textSummary Integrating the open systems perspective of groups and the contingency approach to diversity, we study how group diversification (i.e., a process in which a group becomes more diverse over time as members join and/or leave the group) affects group performance change in an adverse task environment. We argue that diversification benefits performance by reducing group performance decline in times of adversity. Group size increase, however, attenuates this preventative benefit of group diversification. Focusing on organizational tenure and gender, we studied 279 sales groups (3277 individuals) in a large German financial consulting company from 2004 to 2008. In this period, a national legislative change prompted the company to withdraw its star product from the market and presented adversity to the sales groups. Results from latent growth models (LGMs) overall support our arguments. This research extends the (conditional) beneficial view of diversity from a static theoretical space about group being diverse to a dynamic one about group becoming diverse
Business Model Innovation in Transforming Economies: A Co-evolutionary Perspective for a Global and Digital World
No full textABSTRACT
Although transforming economies offer many examples of business model innovation, they have been largely overlooked in academic research, with most studies focusing on what happens in developed countries. However, in their push to become innovation economies, transforming economies have become experimentation arenas for new ways of doing business. This special issue addresses the gap in business model innovation research in several ways. First, we develop a co-evolutionary framework in which we consider what type of business model innovation occurs in transforming economies (adoption, adaptation, or creation) and who the central players are (indigenous firms or MNEs). We show how, through business model innovation, indigenous firms have begun to challenge global industry leaders – despite not having the same resource advantages, proprietary technology, or market power – and we highlight the consequences of this for the domestic and global environment. Second, we discuss how the articles in this special issue advance research by contributing to a co-evolutionary perspective on business model innovation for a global and digital world. Third, to guide future research on business model innovation in the fascinating context of transforming economies we outline various directions that could build on our framework and the articles presented here
Executive remuneration reporting in Europe - Getting inspired by business practice
No full textA number of interesting evolutions are taking place in the field of reporting on executive remuneration, more specifically in firms listed on the stock exchange. Firstly, transparent reporting on executive remuneration is more and more considered to be a proof of good corporate governance. In this respect, it is our experience that, within countries where the same regulatory context applies, important differences can be found related to the degree of transparency on executive remuneration. Secondly, Directive (EU) 2017/828 of the European Commission, also called Shareholder Rights Directive II, puts forward a number of new obligations to the member states in the field of reporting on executive remuneration. In order to facilitate the implementation of article 9b of the Shareholder Rights Directive II, the European Commission has developed the ‘Guidelines on the standardised presentation of the remuneration report under Directive 2007/36/EC, as amended by Directive (EU) 2017/828, as regards the encouragement of long-term shareholder engagement’. The guidelines are non-binding and have the objective of helping companies with disclosure on executive remuneration in their remuneration reports, as well as improving comparability and understanding by different stakeholders. Even though the guidelines are still in a draft version (the most recent one dating 12/07/2019), many listed firms already apply them. Although they are non-binding, the guidelines can serve as an important source of inspiration and provide a good general framework and structure. Furthermore, it can be expected that institutional investors and their advisors will prefer listed firms to disclose information on executive remuneration based on these guidelines. The objective of this study by Professor Xavier Baeten at Vlerick’s Executive Remuneration Research Centre is to inspire firms related to the design, lay-out and content of their remuneration report. In order to do this, the report is structured according to the European Commission’s Guidelines on the standardised presentation of the remuneration report. This report is mainly addressed to listed firms, as the Shareholder Rights Directive and the Guidelines on the standardised presentation of the remuneration report apply to listed firms. However, a number of non-listed firms might also be interested and inspired by this report, if they want to apply the highest standards in the field of reporting on executive remuneration, even though this is not legally obliged
The sandwich game: Founder-CEOs and forecasting as impression management
No full textDrawing on impression management and social exchange theory, we examine the use of positively biased forecasts by (non-)founder-CEOs as an impression management tactic vis-à-vis their existing investors. Contrary to their non-founder counterparts, founder-CEOs identify more with the venture they founded and, therefore, experience greater instrumental and affective concerns about the long-term relationship with their investors. Consequently, we hypothesize that founder-CEOs will strategically provide less positively biased forecasts to their investors than non-founder-CEOs. Using two independent samples with revenue forecasts reported to different venture capital investors and a causal chain scenario study consisting of two experiments, we find consistent support for our hypothesis. Overall, this study provides new insights into the use of forecasts as a post-investment impression management tactic by distinct types of CEOs in entrepreneurial ventures.We acknowledge financial support from the Fund for Scientific Research (FWO Vlaanderen), grant number G065417N
When supplier development initiatives fail: Identifying the causes of opportunism and unexpected outcomes
No full textThis study investigates a ‘dark-side’ of supplier–buyer relationships, specifically the links between supplier development initiatives, relational norms and supplier opportunism, utilizing thematic analysis and qualitative comparative analysis. While buyers often employ supplier development initiatives to improve procurement, they can be ineffective and stimulate opportunistic behaviour by suppliers. Drawing on the case of agri-food supply chains in Vietnam, the paper analyses the relationships between specific supplier development initiatives and forms of opportunism, considering the role of relational norms. While often regarded as reducing the likelihood of opportunism, this study identifies that relational norms may include norms of opportunism in supply chain relationships, which sanction a degree of opportunistic behaviour. The study contributes to supply chain management theory and practice by investigating how buyers can address opportunism, so that supplier development initiatives curb supplier opportunism rather than trigger it
The issues that shape strategy
Get PDFCompanies do not only compete in markets; they also compete on social and political issues. Depending on the business opportunities or threats they identify related to an issue, companies will behave as veterans that defend the status quo in an industry, as reformers that will work with the authorities to change the rules of the game, or as heroes that help solve an issue. In this article, we identify the typical elements of success for each of these three generic nonmarket strategies. We do this based on a framework that focuses on the framing of issues, the alliances that can be mobilized around an issue, and the arenas that can be used to make a move
Influence of acquirer boards on M&A value creation: Evidence from Continental Europe
No full textAbstract We examine how the size and the composition of acquirer boards are associated with shareholder abnormal returns for 2,230 M&As made by listed firms in Continental Europe. Although board size proves insignificant, our findings do offer some evidence as to a beneficial effect of board diversity on M&A value creation. Gender diversity appears marginally positively associated with acquirer shareholder abnormal returns. The fraction of foreign directors is in general not significantly positive, unless the rule of law in the acquirer country is weak. Nonetheless, nationality diversity in the board turns out harmful in purely domestic takeovers. The influence of age diversity is marginally positive, yet only in domestic and horizontal takeovers. Next, the fraction of independent directors has a robust positive effect on the acquirer CAR, while directors with multiple board appointments prove valuable especially through preventing firms from pursuing poor takeovers. Finally, CEO duality is detrimental only in industry‐diversifying deals initiated by acquirers that are not controlled by an individual or a family shareholder. Any negative CEO‐duality effect is mitigated when the acquirer‐country rule of law is strong.This work was supported by the Belgian National Bank (project number: NBB/13/03), FWO (project number: G.0810.12), and the Vlerick Academic Research Fund (subsidized by the Flemish government)
A new algorithm for resource-constrained project scheduling with breadth and depth of skills
No full textThis paper addresses a multi-skilled extension of the resource-constrained project scheduling problem (RCPSP). Although a handful of papers dealt with the multi-skilled RCPSP (MSRCPSP), little to no attention is given to the ideal levels of skills for multi-skilled resources. In this paper, skills are measured along two dimensions known as breadth and depth. In a project environment, the breadth of a resource is perceived as the amount of skills an employee masters. The depth of a skill is the efficiency level at which work can be performed by a resource that masters that skill. The MSRCPSP with breadth and depth consists of scheduling activities with skill requirements and assigning multi-skilled resources to those activities. To be able to efficiently solve the MSRCPSP, a genetic algorithm is developed. Using the created activity schedules and resources assignments, the best workforce characteristics are analysed. Key aspects in this analysis are the breadth and depth. The problem-specific procedure combines a new representation, a new crossover and tailor-made local searches. Computational experiments measure the impact of different multi-skilled resources and their efficiency levels on the makespan of the project